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Side-by-side financial comparison of AerSale Corp (ASLE) and Vericel Corp (VCEL). Click either name above to swap in a different company.
Vericel Corp is the larger business by last-quarter revenue ($92.9M vs $90.9M, roughly 1.0× AerSale Corp). Vericel Corp runs the higher net margin — 25.0% vs 5.9%, a 19.1% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs -4.0%). Vericel Corp produced more free cash flow last quarter ($12.8M vs $9.8M). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs 0.2%).
AerSale, Inc. is a Doral, Florida-based global supplier of aftermarket commercial jet aircraft, engines, used materials, and aeronautical engineering services to passenger and cargo airlines, government, multinational original equipment manufacturers, and independent MROs. AerSale is a member of the Aircraft Fleet Recycling Association.
Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.
ASLE vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $90.9M | $92.9M |
| Net Profit | $5.4M | $23.2M |
| Gross Margin | 34.1% | 78.7% |
| Operating Margin | 7.8% | 24.1% |
| Net Margin | 5.9% | 25.0% |
| Revenue YoY | -4.0% | 23.3% |
| Net Profit YoY | 99.7% | 17.3% |
| EPS (diluted) | $0.10 | $0.46 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $90.9M | $92.9M | ||
| Q3 25 | $71.2M | $67.5M | ||
| Q2 25 | $107.4M | $63.2M | ||
| Q1 25 | $65.8M | $52.6M | ||
| Q4 24 | $94.7M | $75.4M | ||
| Q3 24 | $82.7M | $57.9M | ||
| Q2 24 | $77.1M | $52.7M | ||
| Q1 24 | $90.5M | $51.3M |
| Q4 25 | $5.4M | $23.2M | ||
| Q3 25 | $-120.0K | $5.1M | ||
| Q2 25 | $8.6M | $-553.0K | ||
| Q1 25 | $-5.3M | $-11.2M | ||
| Q4 24 | $2.7M | $19.8M | ||
| Q3 24 | $509.0K | $-901.0K | ||
| Q2 24 | $-3.6M | $-4.7M | ||
| Q1 24 | $6.3M | $-3.9M |
| Q4 25 | 34.1% | 78.7% | ||
| Q3 25 | 30.2% | 73.5% | ||
| Q2 25 | 32.9% | 73.7% | ||
| Q1 25 | 27.3% | 69.0% | ||
| Q4 24 | 31.4% | 77.6% | ||
| Q3 24 | 28.6% | 71.9% | ||
| Q2 24 | 28.2% | 69.5% | ||
| Q1 24 | 31.8% | 68.9% |
| Q4 25 | 7.8% | 24.1% | ||
| Q3 25 | 4.0% | 5.1% | ||
| Q2 25 | 11.7% | -3.2% | ||
| Q1 25 | -10.1% | -24.3% | ||
| Q4 24 | 5.2% | 24.5% | ||
| Q3 24 | 2.4% | -4.3% | ||
| Q2 24 | -2.4% | -11.5% | ||
| Q1 24 | 5.2% | -10.7% |
| Q4 25 | 5.9% | 25.0% | ||
| Q3 25 | -0.2% | 7.5% | ||
| Q2 25 | 8.0% | -0.9% | ||
| Q1 25 | -8.0% | -21.4% | ||
| Q4 24 | 2.9% | 26.3% | ||
| Q3 24 | 0.6% | -1.6% | ||
| Q2 24 | -4.7% | -8.9% | ||
| Q1 24 | 6.9% | -7.5% |
| Q4 25 | $0.10 | $0.46 | ||
| Q3 25 | $0.00 | $0.10 | ||
| Q2 25 | $0.18 | $-0.01 | ||
| Q1 25 | $-0.10 | $-0.23 | ||
| Q4 24 | $0.05 | $0.40 | ||
| Q3 24 | $0.01 | $-0.02 | ||
| Q2 24 | $-0.07 | $-0.10 | ||
| Q1 24 | $0.12 | $-0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.4M | $137.5M |
| Total DebtLower is stronger | $1.3M | — |
| Stockholders' EquityBook value | $424.4M | $354.6M |
| Total Assets | $640.5M | $488.0M |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.4M | $137.5M | ||
| Q3 25 | $5.3M | $135.4M | ||
| Q2 25 | $5.7M | $116.9M | ||
| Q1 25 | $4.7M | $112.9M | ||
| Q4 24 | $4.7M | $116.2M | ||
| Q3 24 | $9.8M | $101.7M | ||
| Q2 24 | $4.3M | $102.5M | ||
| Q1 24 | $2.6M | $110.6M |
| Q4 25 | $1.3M | — | ||
| Q3 25 | $1.5M | — | ||
| Q2 25 | $907.0K | — | ||
| Q1 25 | $1.1M | — | ||
| Q4 24 | $1.2M | — | ||
| Q3 24 | $376.0K | — | ||
| Q2 24 | $522.0K | — | ||
| Q1 24 | $3.5M | — |
| Q4 25 | $424.4M | $354.6M | ||
| Q3 25 | $417.1M | $321.9M | ||
| Q2 25 | $415.9M | $306.8M | ||
| Q1 25 | $406.5M | $295.5M | ||
| Q4 24 | $455.6M | $292.0M | ||
| Q3 24 | $451.5M | $257.5M | ||
| Q2 24 | $449.8M | $243.0M | ||
| Q1 24 | $452.0M | $233.9M |
| Q4 25 | $640.5M | $488.0M | ||
| Q3 25 | $646.3M | $453.3M | ||
| Q2 25 | $646.7M | $435.6M | ||
| Q1 25 | $646.1M | $424.6M | ||
| Q4 24 | $604.7M | $432.7M | ||
| Q3 24 | $601.5M | $390.4M | ||
| Q2 24 | $598.7M | $376.8M | ||
| Q1 24 | $571.7M | $356.7M |
| Q4 25 | 0.00× | — | ||
| Q3 25 | 0.00× | — | ||
| Q2 25 | 0.00× | — | ||
| Q1 25 | 0.00× | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | 0.00× | — | ||
| Q2 24 | 0.00× | — | ||
| Q1 24 | 0.01× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $11.4M | $15.0M |
| Free Cash FlowOCF − Capex | $9.8M | $12.8M |
| FCF MarginFCF / Revenue | 10.8% | 13.8% |
| Capex IntensityCapex / Revenue | 1.7% | 2.4% |
| Cash ConversionOCF / Net Profit | 2.11× | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $-29.1M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $11.4M | $15.0M | ||
| Q3 25 | $-8.9M | $22.1M | ||
| Q2 25 | $19.8M | $8.2M | ||
| Q1 25 | $-45.2M | $6.6M | ||
| Q4 24 | $37.5M | $22.2M | ||
| Q3 24 | $10.4M | $10.2M | ||
| Q2 24 | $-15.3M | $18.5M | ||
| Q1 24 | $-21.5M | $7.2M |
| Q4 25 | $9.8M | $12.8M | ||
| Q3 25 | $-9.8M | $19.5M | ||
| Q2 25 | $18.6M | $81.0K | ||
| Q1 25 | $-47.6M | $-7.6M | ||
| Q4 24 | $32.3M | $8.5M | ||
| Q3 24 | $8.9M | $-9.2M | ||
| Q2 24 | $-18.9M | $1.8M | ||
| Q1 24 | $-25.0M | $-6.8M |
| Q4 25 | 10.8% | 13.8% | ||
| Q3 25 | -13.8% | 28.8% | ||
| Q2 25 | 17.3% | 0.1% | ||
| Q1 25 | -72.4% | -14.5% | ||
| Q4 24 | 34.0% | 11.2% | ||
| Q3 24 | 10.7% | -15.9% | ||
| Q2 24 | -24.6% | 3.4% | ||
| Q1 24 | -27.7% | -13.3% |
| Q4 25 | 1.7% | 2.4% | ||
| Q3 25 | 1.3% | 3.9% | ||
| Q2 25 | 1.1% | 12.9% | ||
| Q1 25 | 3.7% | 27.0% | ||
| Q4 24 | 5.6% | 18.3% | ||
| Q3 24 | 1.9% | 33.5% | ||
| Q2 24 | 4.7% | 31.8% | ||
| Q1 24 | 3.9% | 27.3% |
| Q4 25 | 2.11× | 0.65× | ||
| Q3 25 | — | 4.35× | ||
| Q2 25 | 2.31× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 13.89× | 1.12× | ||
| Q3 24 | 20.52× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -3.42× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ASLE
| Products | $57.8M | 64% |
| Maintenance | $23.2M | 26% |
| Leasing Arrangements | $9.9M | 11% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
